AKC News // IHBA Introduce Code of Practice for Management Companies

IHBA Code of Practice for Management Companies in respect of Multi-Unit Developments with effect from 15th May 2008

The IHBA has agreed to adopt a new Code of Practice relating to Management Companies. This will be formally endorsed at the IHBA AGM and be applicable to all new management companies established by members of the IHBA with effect from 15 May 2008. The IHBA Code of Practice extends to responsibilities around the ownership, management and maintenance of common areas and the provision of common services within the Multi-Unit Development. The Code sets out a series of measures intended to ensure that developers, agents and home buyers share a common understanding of their respective roles and responsibilities in contracting for the sale/purchase of units in a Multi-unit Development and to establish a framework for the maintenance and management of common areas and for the provision of common services.

The Code of Practice addresses housing developer responsibilities in each of the following areas:

  • The Management Company
  • The Managing Agent
  • Service Charges
  • Sinking Fund
  • Completions and Transfer of Ownership of the Management Company
  • Snagging of the Common Areas
  • Dispute Resolution and Redress
  • Standard Marketing and Sales Materials
  • For more download the Code of Practice relating to Management Companies in PDF format.

    Source: http://www.homefacts.ie

    Date : 25-03-2008